Angel Tax : Union Budget 2024-2025 The Union Minister for Finance proposed to abolish ‘angel tax’ for all classes of investors, while presenting the Union Budget 2024-25 in Parliament. Angel Tax was levied on the capital raised via the issue of shares by unlisted companiesfrom an Indian investor if the share price of issued shares […]
Day: July 24, 2024
Clarion-Clipperton Zone
Clarion-Clipperton Zone: India will apply for licences from International Seabed Authority (ISA) to explore for deep-sea minerals in the Pacific Ocean especially plans to focus on the Clarion-Clipperton Zone. Clarion-Clipperton Zone (CCZ) is a vast plain in the North Pacific Ocean between Hawaii and Mexico. It is known to hold large volumes of polymetallic nodules […]
Climate Finance Taxonomy
Climate Finance Taxonomy: Presenting the Union Budget for 2024-25, the Finance Minister announced that the government would develop a ‘climate finance taxonomy’. Climate Finance Taxonomy is a system that classifies which parts of the economy may be marketed as sustainable investments. It helps guide investors and banks in directing trillions toward impactful investments to tackle […]
Electric Mobility Promotion Scheme
Electric Mobility Promotion Scheme: The central government said that the Electric Mobility Promotion Scheme (EMPS) 2024 will provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing ecosystem in the country. Electric Mobility Promotion Scheme aims to further accelerate the adoption of Electric Vehicles in the country. It is a fund […]
Vishnupad Temple And Mahabodhi Temple
Vishnupad Temple And Mahabodhi Temple Finance Minister announced during her Union Budget speech that corridor projects will be built for the Vishnupad Temple at Gaya and the Mahabodhi Temple at Bodh Gaya in Bihar. Vishnupad Temple is in the state of Bihar and dedicated to Lord Vishu. It was built in 1787 on the orders […]
INS Brahmaputra
INS Brahmaputra: The Indian Navy’s INS Brahmaputra warship, docked at Mumbai Dockyard for refitting, overturned under mysterious circumstances after a fire broke out, leading to significant damage, and one sailor reported missing. INS Brahmaputra is the first of the indigenously built ‘Brahmaputra’ class-guided missile frigates. The Brahmaputra class, which replaces the Talwar class, is an […]
Skill Loan Scheme
Skill Loan Scheme: The Union Finance Minister recently announced a revision to the model skill loan scheme, which will now facilitate loans up to Rs 7.5 lakh backed by a guarantee from a government-promoted fund. Skill Loan Scheme was introduced in July, 2015, to offer institutional credit to individuals pursuing skill development courses aligned with […]
Tax Incidence
Tax Incidence: The Union government recently said Goods and Services Tax (GST) has decreased tax incidence on the common man. Tax Incidence is an economic term for understanding the division of a tax burden between stakeholders, such as buyers and sellers or producers and consumers. The initial incidence (also called statutory incidence) of a tax […]
Chandrashekhar Azad Birth Anniversary
Chandrashekhar Azad Birth Anniversary The Prime Minister recently paid tributes to Chandra Shekhar Azad on his birth anniversary. Chandrashekhar Azad was a great Indian freedom fighter. Chandra Shekhar Tiwari on July 23, 1906, in the small village of Bhavra in Madhya Pradesh, Azad was a beacon of revolutionary fervor from a very young age. His […]
National Time Release Study Report 2024
National Time Release Study Report 2024: The Central Board of Indirect Taxes and Customs (CBIC) released the National Time Release Study (NTRS) 2024 report, which measures the cargo release time at 9 ports in India. The NTRS 2024 report aims to assess the progress made towards the National Trade Facilitation Action Plan (NTFAP) targets, identify […]
